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Urgent - Question regarding Bank Loan

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  • Urgent - Question regarding Bank Loan

    Hi,

    I am in India and got a I-20 from an University. I applied for Bank Loan and they sanctioned 20 lakhs even thought I applied for 15 lakhs only. Thetuition fee for my University is 15 lkahs for 3 years?

    Will this be a problem? One of my friend said that this may be a problem. The bank loan should not be more than 12 lakhs and the remaining amount should be from sponsor?

    So will this be a problem??

    Thanks,
    Murali

  • #2
    There are no such restrictions. The bottom line is you should have funds for your study which your bank loan provides. 12 lakhs doesnt make sense...what if a college needs 15 lakhs? You will be asked "what are you going to abouth the rest 3 lakhs"? But you will need to have 15 lakhs in your account and a bank statement showing the same.
    Note that this is not a legal advice. Consult your immigration attorney for the best upto-date information.

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